Important bills passed in parliment

New Delhi Aug 4: Another important week of Parliament has concluded.
Loksabha: The lower house in its sittings held on Thursday and Friday has passed the following bills

* The Banking Regulation (Amendment) Bill, 2017.
* The Punjab Municipal Corporation Law (Extension to Chandigarh) Amendment Bill, 2017.
* The National Bank for Agriculture and Rural Development (Amendment) Bill, 2017.
* The Indian Institute of Petroleum and Energy Bill,2017.

Banking Regulation bill: The Bill empowers the RBI to recommended the banks to initiate insolvency proceedings and other methods to solve the rising NPA problem in the banks.

Punjab Municipal Corporation bill: This bill transfers the powers of the central government of levying entertainment tax to Chandigarh Municipal Corporation and also subsumes the power of the municipality to levy octroi.



NABARD bill: The bill aims to increase the capital of the bank to Rs 30000 crore and also extends loan facilities to MSME sector.

IIPE bill: The bill aims to establish an Indian Institute of Petroleum and Energy research in Vizag of Andrapradesh as promised in the AP reorganization ACT 2014.

Rajyasabha: The upper house has passed the following bill yesterday.
The Indian Institutes of Information Technology (Amendment) Bill, 2017
The bill aims to declare IIT Kurnool as an institute of national importance.

Let's hope that the Parliament functions smoothly in next week also.